SPY vs WTRG: Correlation
SPDR S&P 500 ETF Trust (SPY) and Essential Utilities, Inc. (WTRG) show a near-zero relationship: their 3-year correlation of weekly returns is -0.03.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and WTRG?
On 3 years of weekly data the SPY/WTRG correlation comes out at -0.03, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.03). The 5-year figure is 0.28, and annualized covariance runs at -9.1 %².
Within SPY's tracked universe of 4755 assets, WTRG comes in at #4666 by 3-year correlation. The last year tells two different stories: SPY led by 15.0 percentage points, +20.6% for SPY against +5.6% for WTRG.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
SPY vs WTRG: side by side
| SPY (SPDR S&P 500 ETF Trust) | WTRG (Essential Utilities, Inc.) | |
|---|---|---|
| 1-year return | +20.6% | +5.6% |
| 5-year return | +82.4% | -5.2% |
| Volatility (ann.) | 14.5% | 19.6% |
| Beta vs S&P 500 | 1.00 | -0.04 |
| Max drawdown (3Y) | -18.8% | -17.9% |
| Market cap | – | $11.5B |
| P/E (trailing) | – | 20.9 |
| Dividend yield | 1.01% | 3.36% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | WTRG |
|---|---|---|
| 2022 | -18.2% | -8.9% |
| 2023 | +26.2% | -19.4% |
| 2024 | +24.9% | +0.5% |
| 2025 | +17.7% | +9.4% |
| 2026 | +13.7% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and WTRG good diversifiers for each other?
Yes. With a correlation of -0.03, SPY and WTRG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPY and WTRG?
As of 2026-08-27, the correlation of weekly returns between SPY and WTRG is -0.03 over 3 years, -0.38 over 1 year and 0.28 over 5 years.
Is WTRG a good diversifier for SPY?
Yes. With a correlation of -0.03, SPY and WTRG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.03 mean?
A reading of -0.03 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spy-vs-wtrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spy-vs-wtrg/)
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Related comparisons
Hubs: SPY correlations · WTRG correlations
